LegalFix
Sign In

27-5.1-3-2. Powers; kinds of insurance coverage

IN Code § 27-5.1-3-2 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Sec. 2. A standard company that is issued a certificate of authority under this article may:

(1) perform the business of insurance on:

(A) an assessable;

(B) a mutual; and

(C) a nonprofit;

basis;

(2) insure the property of policyholders of the standard company against loss or damage that is caused by:

(A) fire;

(B) windstorm;

(C) causes specified under an extended coverage provision; and

(D) other perils that are not specifically excluded in the policy form; and

(3) insure the property of policyholders of the standard company against:

(A) loss of use;

(B) loss of occupancy;

(C) loss of rents; and

(D) additional expenses;

that result from direct loss or damage to covered property.

As added by P.L.129-2003, SEC.8.

Previous Section
27-5.1-3-1. Standard company; supplementation of chapter; limitation on types of insurance provided
Next Section
27-5.1-3-3. Company territory expansion; net retention per risk; investments